In this article, we will know about the detailed TDS Rates Chart for FY 2020-21 (AY 2022-22)
As you all are aware that due to the Covid-19 pandemic, the TDS rates for the FY 2020-21 (AY 2021-22) have been reduced by 25% with effect from 14th May 2020 to 31st March 2021 by the CBDT. The benefit for this TDS relief will be applicable to only resident Indians, non-residents will not get benefits from this.
TDS Rates Chart for FY 2020-21 (AY 2021-22)
| Section | Nature of Payment | TDS Rate(%) from (01-04-2020 to 13-05-2020) | New Rate(%) W.e.f 14-05-2020 |
|---|---|---|---|
| 192 | Salary Income | Slab rates | Slab rates |
| 192A | Premature withdrawal from Employee Provident Fund | Individual 10% Company NA | Individual 10% Company NA |
| 193 | Interest on securities/Debentures | Individual 10% Company 10% | Individual 7.5% Company 7.5% |
| 194 | Dividend (Dividend other than a listed company) | Individual 10% Company 10% | Individual 7.5% Company 7.5% |
| 194A | Interest other interest on securities | Individual 10% | Individual 7.5% |
| 194B | Winning from lotteries | Individual 30% Company 30% | Individual 30% Company 30% |
| 194BB | Winnings from Horse Race | Individual 30% Company 30% | Individual 30% Company3 0% |
| 194C | Payment to Contractor Single Transaction Payment to Contractor Aggregate during the FY | Individual 1% Company 2% Individual 1% Company 2% | Individual 0.75% Company 1.5% Individual 0.75% Company 1.5% |
| 194C | Contract- Transporter not under 44AE | Individual 1% Company 2% | Individual 0.75% Company 1.5% |
| 194D | Insurance Commission | Individual 5% Company 5% | Individual 3.75% Company 3.75% |
| 194DA | Payment in respect of life insurance policy | Individual 5% Company 5% | Individual 3.75% Company 3.75% |
| 194E | Payment to Non-Resident Sportsmen/Sports Association | Individual 20% Company 20% | Individual 20% Company 20%- |
| 194EE | Payments of deposits under the National Savings Scheme | Individual 10% Company 10% | Individual 7.5% Company 7.5% |
| 194F | Repurchase units by Mutual Funds | Individual 20% Company 20% | Individual 15% Company 15% |
| 194G | Commission on Lottery | Individual 5% Company 5% | Individual 3.75% Company 3.75% |
| 194H | Commission on Brokerage | Individual 5% Company 5% | Individual 3.75% Company 3.75% |
| 194I | Rent – Land, Building, and Furniture | Individual 10% Company 10% | Individual 7.5% Company 7.5% |
| 194I | Rent- Plant, Machinery, and Equipment | Individual 2% Company 2% | Individual 1.5% Company 1.5% |
| 194IA | Transfer of certain immovable property other than agricultural land | Individual 1% Company 1% | Individual 0.75% Company 0.75% |
| 194IB | Rent- Land or Building or both | Individual 5% Company 5% | Individual 3.75% Company 3.75% |
| 194IC | Payment of Monetary consideration under the joint development agreement | Individual 10% Company 10% | Individual 7.5% Company 7.5% |
| 194J | Professional fees/technical services Payment to FTS, Certain Royalties, and Call Centre Operator | Individual 10% Company 10% Individual 2% Company 2% | Individual 7.5% Company 7.5% Individual 1.5% Company 1.5% |
| 194LA | TDS on compensation for compulsory acquisition of immovable property | Individual 10% Company 10% | Individual 7.5% Company 7.5% |
| 194LB | Income by way of interest from infrastructure debt fund | Individual 5% Company 5% | Individual 5% Company 5% |
| 194LC | Income by way of interest by an Indian specified company to a Non-Resident/Foreign company on foreign currency approved loan/long-term infrastructure bonds from outside of India | Individual 5% Company 5% | Individual 5% Company 5% |
| 194LD | Interest on certain bonds and Govt. Securities | Individual 5% Company 5% | Individual 5% Company 5% |
| 194M | Payment of Commission, contractual fee, a professional fee to a resident person by an individual or a HUF who are not liable to deduct TDS under section 194C, 194H or 194J | Individual 5% Company 5% | Individual 3.75% Company 3.75% |
| Section | Nature of Payment | TDS Rate(%) from(01-04-2020 to 13-05-2020) | New Rate(%)W.e.f 14-05-2020 |
| 194N | Cash withdrawal in excess of Rs. 20 Lakh during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in the business of banking or post office, | Individual 2% Company 2% | Individual 2% Company 2% |
| 194N | Cash withdrawal in excess of Rs.1 Crore during the previous year from one or more account maintained by a person with a banking company, co-operative society engaged in the business of banking, or a post office | Individual 2% Company 2% | Individual 2% Company 2% |
| 194O | Applicable for ‘E-Commerce operator’ for sale of goods or provision of service facilitated by it through its digital or electronic facility or platform(Applicable from 01-10-2020) | Individual 1% Company 1% | Individual 0.75% Company 0.75% |
| 196B | Income from units (including long-term capital gain on transfer of such units) to an offshore fund | Individual 10% Company 10% | Individual 10% Company 10% |
| 196C | Income from foreign currency bonds or GDR (including long-term capital gains on transfer of such bonds) (not being dividend) | Individual 10% Company 10% | Individual 10% Company 10% |
| 196D | Income of FIIs(Foreign Institutional Investors) from securities | Individual 20% Company 20% | Individual 20% Company 20% |
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